Donald Trump suffers humiliating tumble down Forbes list of world's richest people as Bill Gates comes top again

The Forbes figure is substantially lower than the president has claimed which they claim is due to the 'state of Manhattan real estate market'

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ByScarlet Howes

• 19:01, 20 MAR 2017
• Updated19:41, 20 MAR 2017

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Trump's net worth has been cut by a billion the magazine claims (Photo: AFP)

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Microsoft co-founder Bill Gates has again topped Forbes' lost of the world's richest people, while US President Donald Trump slipped more than 200 spots, the magazine said on Monday.
According to the annual rich list, Gates' fortune rose to $86billion, from $75billion, followed by investor Warren Buffet, up $14.8billion to $75.6billion.
There were 183 tech billionaires on the Forbes list , with a combined $1trillion in wealth. The list is dominated by US billionaires.
Others in the top 10 included Amazon founder Jeff Bezos, who moved up to number three with the biggest gain of any person on the planet, a $27.6bn rise in his fortune of $72.8bn, Facebook creator Mark Zuckerberg was fifth with $56billion, and Oracle co-founder Larry Ellison came it at number seven with $52.2billion in the bank.
Trump's plummet down the list to number 544 with an estimated net worth of $3.5billion was the result of $1billion being slashed from his valuation in the same list last year.

Microsoft co-founder Bill Gates has once again topped the Forbes rich list (Photo: Getty)

Forbes attributed Trump's drop to sluggishness in the Manhattan real estate market which is responsible for a disproportionate amount of his wealth.
"Forty percent of Donald Trump's fortune is tied up in Trump Tower and eight buildings within one mile of it," Forbes said.
"Lately, the neighborhood has been struggling (relatively speaking)."

U.S. investor Warren Buffett was second on the list behind Gates with a net worth of $75.6billion (Photo: Reuters)

Trump had steadfastly refused to release his tax returns, which would prove how much he is truly worth, however the Forbes figure is substantially lower than the president has claimed.
During the campaign, then-candidate Trump boasted he was worth, 'in excess of $10billion', the Guardian reports.
Trump was in fact tied with 19 other people at number 544, including disgraced former Los Angeles Clippers owner Donald Sterling, and Texas billionaire Robert McNair.

The Forbes figure is substantially lower than the U.S. president has claimed (Photo: Anadolu)

However, the president will perhaps take some comfort in outranking Dallas Mavericks owner Mark Cuban on the list, who has an estimated net worth of $3.4billion.
Overall, the global billionaire population jumped 13 per cent from last year to 2,043, the biggest annual increase in the 31 years since the magazine began compiling the list, Forbes said.
Including in the 195 newcomers to the list are 15 self-made women. The new arrivals took the total number of women ranked by Forbes to 227.

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Mark Zuckerberg was fifth with $56billion on Forbes' rich list (Photo: Getty)

Forbes explained how it creates its 'snapshot' ranking as part of the list.
"The Forbes Billionaires list is a snapshot of wealth taken on February 17, 2017; we used stock prices and exchange rates from around the world to calculate net worths," the magazine said.
"We list individuals rather than multigenerational families who share large fortunes, though we include wealth belonging to a billionaire’s spouse and children if that person is the founder of the fortune."

Forbes' top ten:

• Bill Gates: $86bn
• Warren Buffet: $75.6bn
• Jeff Bezos: $72.8bn
• Amancio Ortega: $71.3bn
• Mark Zuckerberg: $56bn]
• Carlos Slim: $54.5bn
• Larry Ellision: $52.2bn
• Charles Koch: $48.3bn
• David Koch: $48.3bn
• Michael Bloomberg: $47.5bn